Everyone probably knows New York City's Hotel Elysee because of it's piano bar right off the lobby, called Monkey Bar, which has been featured on "Sex and the City" and "Mad Men." It's even hosted some of Manhattan's biggest movie premieres (like "American Hustle") and celebrities' birthday parties!
Although the Midtown hotel has been sold for $55 million, there's no need to worry about any new redevelopment, since its buyers are the hotel's current operators.
As it turns out, the pricing is pretty "favorable," given that each unit in the 103-room hotel cost about $533,980 each. According to the New York Post, the deal "was sold subject to the terms of the trio of owners' existing lease that runs until the end of May 2041."
"At the end of the day, we were the logical buyers," noted Richard Born, one of the operators alongside Ira Drukier and Henry Kallan. "We love the asset," he added.
Meanwhile, Alan S. Cohen of ABS Partners - who was responsible for marketing the property at 60 East 54th Street - said, "There was an overwhelming response by well-qualified buyers for this renowned, well-kept historical property."
The hotel, which boasts of a neo-Renaissance style, was designed by prolific architect Henry Allan Jacobs. After going through a bankruptcy in 1937, Mayer Quain, who made a lot of money on "nightclub hatcheck concessions among other ventures," purchased the hotel.
Quain proceeded to reside in the hotel along with his family. In addition, his adult children also lived in the apartment hotel until their deaths a few years ago.
Hotel Elysee has been notable for its lack of room numbers too - instead of using numbers, each hotel room has its own name. In fact, the presidential suite gives a nod to a former guest, Tennessee Williams.
As for its amenities, the hotel has a library and business center available for guest use. The Monkey Bar, although situated in the hotel, is separately operated by Jeff Klein, Jeremy King and Graydon Carter.
